Segment Wealth Management Lowers stake in Apache Corporation (APA)

Apache Corporation (APA) : Segment Wealth Management reduced its stake in Apache Corporation by 2.24% during the most recent quarter end. The investment management company now holds a total of 81,703 shares of Apache Corporation which is valued at $4.3 Million after selling 1,870 shares in Apache Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Apache Corporation makes up approximately 1.61% of Segment Wealth Management’s portfolio.

Other Hedge Funds, Including , Bourgeon Capital Management reduced its stake in APA by selling 2,200 shares or 22.19% in the most recent quarter. The Hedge Fund company now holds 7,715 shares of APA which is valued at $409,049. Apache Corporation makes up approx 0.28% of Bourgeon Capital Management’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in APA by selling 151,347 shares or 1.38% in the most recent quarter. The Hedge Fund company now holds 10,830,554 shares of APA which is valued at $574.2 Million. Apache Corporation makes up approx 0.10% of Blackrock Institutional Trust Company N.a.’s portfolio.Schroder Investment Management Group reduced its stake in APA by selling 100,269 shares or 61.32% in the most recent quarter. The Hedge Fund company now holds 63,238 shares of APA which is valued at $3.4 Million. Apache Corporation makes up approx 0.01% of Schroder Investment Management Group’s portfolio.Birch Hill Investment Advisors reduced its stake in APA by selling 400 shares or 5.03% in the most recent quarter. The Hedge Fund company now holds 7,555 shares of APA which is valued at $400,566. Apache Corporation makes up approx 0.04% of Birch Hill Investment Advisors’s portfolio.Lafleur Godfrey boosted its stake in APA in the latest quarter, The investment management firm added 475 additional shares and now holds a total of 46,717 shares of Apache Corporation which is valued at $2.5 Million. Apache Corporation makes up approx 0.77% of Lafleur Godfrey’s portfolio.

Apache Corporation opened for trading at $54.38 and hit $55.6 on the upside on Monday, eventually ending the session at $54.8, with a gain of 3.36% or 1.78 points. The heightened volatility saw the trading volume jump to 40,38,091 shares. Company has a market cap of $20,744 M.

On the company’s financial health, Apache Corporation reported $-0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.48 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.88.Analysts expectations of $ 1099.99.During the same quarter in the previous year, the company posted $-0.37 EPS.

Many Wall Street Analysts have commented on Apache Corporation. Apache Corporation was Upgraded by Scotia Howard Weil to ” Sector Outperform” on May 16, 2016. Company shares were Reiterated by RBC Capital Mkts on May 6, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 56 from a previous price target of $54 .Apache Corporation was Upgraded by Wells Fargo to ” Outperform” on Apr 8, 2016.

Apache Corporation (Apache) is an independent energy company which explores for develops and produces natural gas crude oil and natural gas liquids. As of December 31 2014 Apache had exploration and production interests in five countries: the United States Canada Egypt Australia and the United Kingdom. During the year ended December 31 2014 it participated in drilling 1478 gross wells with 1407 (95%) completed as producers. As of December 31 2013 in addition to its completed wells several wells had not reached completion: 318 gross (214.7 net) in the United States; 27 gross (19.0 net) in Canada; 35 gross (32.5 net) in Egypt and 3 gross (2.2 net) in the North Sea. The Company’s operations in United States and Canada are constituted under its North America business while its International business constitutes its operations in Egypt Australia and the United Kingdom in the North Sea.

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